Valon Technologies has leased a full floor of office space at 860 Broadway, the redeveloped six-story office building at the heart of New York’s Silicon Alley in Midtown South, announced JLL.
A tech-enabled residential mortgage servicer that operates in 49 states, Valon Technologies is a private equity-backed fintech founded in 2019 by Andrew Wang and Jon Hsu. The company will relocate from a co-working space at 88 University Place to occupy 13,815 square feet across the entire fourth floor of 860 Broadway in the first quarter of 2024.
Built in 1926 and once home to Andy Warhol’s Factory studio and artisan hangout, the building was fully renovated by Gordon Property Group in 2019. Warhol’s original office now serves as a third-floor conference room, and the available office space in the building features wood floors, modern kitchen and pantry spaces, high ceilings and natural light from large windows overlooking Union Square.
Other new media, technology and services firms at 860 Broadway include global software company Kaltura, architectural design firm Selldorf Architects and flexible workspace provider Industrious, which operates a private office service across the entire top floor.
JLL Executive Vice President Seth Hecht and Associate Thomas Swartz represented Gordon Property Group in the transaction. Cushman & Wakefield Executive Managing Director Michael Movshovich and Director Troy Elias represented Valon Technologies. Asking rents were $68 psf.
